Ann: RIQUEZA PERMIT PROGRESSES AND 3RD SAMPLING PROGRAM UNDERWAY-ICG.AX, page-110

Looks like it will be a long slow hard grind to soak up all the shares issued recently at 4 and work through those just happy to take a quick 25% or 50% profit, before any of the serious action starts, ie drilling.

I notice the company has been coy in not saying when it expects to secure the final certificate to allow the start of drilling. Given the slow progress seen previously in such matters this is a probably a good thing, to avoid expectations being raised too far, then dashed.

The longer it takes for the drilling certificate to be issued, the more impatient investors will become, potentially putting major roadblocks at 5 and 6.

Excitement levels in theshort term will be maintained by (hopefully) news in September of positive assays.

The company was able to raise a motzah, or A$2.9 million before costs, to fund a decent exploration program.

It would be disapponting to see this whittled away by lemgthy delays in permitting.

If all goes well, and i'm hoping it will, we might get first assays from exploration drilling by xmas, but iwouldn't bet thehouse on it.